Altus Power (NYSE:AMPS) Releases Quarterly Earnings Results, Misses Expectations By $0.29 EPS

Altus Power (NYSE:AMPS) posted its quarterly earnings data on Monday. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.29), Zacks reports. Altus Power had a net margin of 19.18% and a return on equity of 4.79%.

Altus Power Trading Up 0.1 %

Shares of NYSE:AMPS opened at $4.96 on Tuesday. Altus Power has a 12-month low of $2.71 and a 12-month high of $5.50. The business’s fifty day simple moving average is $4.46 and its 200-day simple moving average is $3.90. The company has a market capitalization of $796.74 million, a PE ratio of 22.52 and a beta of 0.98. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 2.10.

Analyst Ratings Changes

A number of brokerages recently issued reports on AMPS. Seaport Res Ptn lowered Altus Power from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. UBS Group lowered Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 price target for the company. in a research note on Monday, February 10th. B. Riley lowered Altus Power from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $6.00 to $5.00 in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. raised Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a research note on Thursday, February 6th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $5.06.

Insider Activity

In related news, CEO Gregg J. Felton sold 71,161 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total transaction of $349,400.51. Following the transaction, the chief executive officer now directly owns 4,023,696 shares in the company, valued at $19,756,347.36. The trade was a 1.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Anthony Savino sold 8,823 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total value of $43,320.93. Following the transaction, the insider now owns 4,088,231 shares in the company, valued at approximately $20,073,214.21. This trade represents a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,146 shares of company stock worth $437,707. 24.30% of the stock is currently owned by company insiders.

Altus Power Company Profile

Altus Power, Inc, a clean electrification company, develops, owns, constructs, and operates roof, ground, and carport-based photovoltaic solar energy generation and storage systems. It serves commercial, industrial, public sector, and community solar customers. Altus Power, Inc was founded in 2013 and is headquartered in Stamford, Connecticut.